Hunter Biden Acknowledges Issuing Meme Coin LAPTOP... Declares "Bitcoin Will Reach $1 Million"

▲ LAPTOP/AI generated image

Hunter Biden, the second son of former U.S. President Joe Biden, has officially acknowledged issuing his own meme coin. Market attention is focused on him as he declared full responsibility for the price crash that occurred immediately after its issuance.

The cryptocurrency YouTube channel Altcoin Daily released an exclusive interview with Hunter Biden, son of former U.S. President Joe Biden and author, in a video uploaded on September 27 (local time). Biden stated that he was fully involved in the development of the LAPTOP meme coin he issued, scoring it a 10 out of 10. Biden said, “I'm not shying away from this; I was perfectly and deeply involved. Unlike other celebrities who claim others manage it for them, I will take all responsibility and normalize it.”

Biden cited his experience as chairman of the board of the UN's World Food Programme (WFP) as his entry point into cryptocurrency. At the time, he realized the necessity of mobile micro-financial transactions in impoverished areas, such as the Kibera refugee camp in Kenya, and became convinced of the decentralized philosophy after reading related books. He criticized traditional financial institutions for exploiting high fees, ranging from 10% to 15%, in the remittance process for low-income individuals, and highly praised the potential for financial democratization that virtual assets could bring.

The LAPTOP token experienced a crash of over 98% due to a lack of liquidity after its market capitalization initially surged to $317 billion. Biden claimed that the global market maker committed a serious error by not adequately supplying the contracted 30 million units and depositing only $5,000 worth of liquidity. He emphasized that not a single token out of the 300 million insider holdings was moved, and no founder profited personally. He further announced his intention to compensate approximately 6,000 wallets that suffered brokerage losses, even out of his own pocket, despite the failure of a centralized exchange listing.

Meanwhile, Biden expressed strong optimism regarding Bitcoin's (BTC) long-term price outlook. Biden predicted, “I am 100% confident that Bitcoin will reach $1 million,” adding, “It will reach that price range in years, not decades.” He also criticized the Democratic Party's regulation-only policy as anachronistic, emphasizing that blockchain has already established itself as an irresistible technological trend.

[Key Summary of the Article]

-Hunter Biden admitted 100% involvement in the LAPTOP meme coin project and stated he would compensate victims of the price crash out of his own pocket.

-He claimed that the market maker committed a serious error by supplying only $5,000 in liquidity and that there was no insider selling whatsoever.

-He is confident that Bitcoin will reach $1 million within years and criticized the Democratic Party's stance against virtual assets as misguided.

*Disclaimer: This article is for investment reference only, and we are not responsible for any investment losses based on it. The content should be interpreted for informational purposes only.*